EXHIBIT 99.1
Clareen O'Quinn Mario "Ike" Iacoviello
Investor Relations Investor Relations
Eagle Wireless OTC Financial Network
International, Inc. 800-649-0983
800-628-3910 [email protected]
281-538-6000
[email protected]
FOR IMMEDIATE RELEASE:
EAGLE WIRELESS INTERNATIONAL ANNOUNCES
STOCK REPURCHASE PROGRAM
LEAGUE CITY, TX - SEPTEMBER 22, 2000: Eagle Wireless International, Inc. (AMEX:
EAG), today announced, that its board of directors has authorized a stock
buyback program of up to one-half million shares of the Eagle's outstanding
common stock. Shares repurchased pursuant to the buyback will be held for
issuance in connection with Eagle's Incentive Stock Option Plan and other
employee plans. The common stock will be repurchased from time to time in the
open market or in negotiated transactions, depending on market conditions and
other factors. Eagle has approximately 26 million common shares outstanding.
Dean Cubley, President and Chief Executive Officer, said, "We believe the
current stock price does not adequately represent the value of Eagle's shares.
The share repurchase program reflects our confidence in Eagle's long-term
prospects and the significant opportunities in the rapidly growing broadband
marketplace in which Eagle and its subsidiaries participate."
Eagle Wireless International, Inc., and its subsidiaries are leading suppliers
of broadband wired and wireless equipment and services for the Internet,
multimedia set-top boxes, one- and two-way wireless messaging, specialized
mobile radio, remote data acquisition and meter reading, and integrated wired
and wireless convergence product markets. The company is headquartered in League
City, Texas, near the NASA Johnson Space Center, south of Houston. Further news
updates on Eagle and its products are available at WWW.EGLW.COM,
WWW.BROADBANDMAGIC.COM, WWW.ATLANTICPACIFIC.NET, WWW.ETOOLZ.COM, and
WWW.OTCFN.COM/EGLW.
FORWARD-LOOKING STATEMENTS IN THIS RELEASE ARE MADE PURSUANT TO THE "SAFE
HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
INVESTORS ARE CAUTIONED THAT SUCH FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND
UNCERTAINTIES, INCLUDING, WITHOUT LIMITATION, CONTINUED ACCEPTANCE OF THE
COMPANY'S PRODUCTS, INCREASED LEVELS OF COMPETITION, NEW PRODUCTS AND
TECHNOLOGICAL CHANGES, THE COMPANY'S DEPENDENCE UPON THIRD-PARTY SUPPLIERS,
INTELLECTUAL PROPERTY RIGHTS, AND OTHER RISKS DETAILED FROM TIME TO TIME IN THE
COMPANY'S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
